Kroo has announced it is increasing its current account interest rate to 3.6% AER
IN BREIF:
- Kroo is a fully licensed UK digital bank
- The increase sees Kroos current account interest rate increase form 3.33% AER and will come into effect from 1st June
- The socially conscious bank is committing to raising its interest rate in line with the Bank of England, without customers requiring a savings account and with no hidden fees.
What does this mean?
CEO of Kroo, Andrea de Gottardo, says: “To change the banking industry for the better, we provide customers with a fair rate on their current account with a straightforward, no strings attached experience that they deserve from their bank. It’s important for customers to be reading the fine print to understand what they’re really buying into and make an informed decision on who they’re banking with. Increasing trust from both an educational and regulatory standpoint improves consumers’ access to more competitive products, allowing them to feel more confident in the deal they’re getting long-term.”
